With the central government giving push to its UDAN Scheme, many small localities and areas have emerged in last few years near various operational and proposed airports that have eventually led to a boost in the overall real estate of these areas. Talking about the commercial real estate market, many infrastructural developments like ring roads, highways and expressways have attracted leading corporate giants and MNCs to invest in such airport influenced areas. This has been revealed in the latest report published by JLL, a global real estate firm.
Delhi Aerocity, Mumbai’s Bandra-Kurla Complex (BKC), and Central Business District are some of the leading commercial office hubs which have emerged after the commencement of Delhi and Mumbai International airports and are home to renowned companies and MNCs.
Future Developments
In recent times, the proposed international airports at Jewar and Navi Mumbai are all set to give rise to many localities which in future have the potential to become major commercial hubs of Delhi-NCR and Mumbai. These areas will not only change the commercial landscape but will also ease traffic congestion on roads as well as give rise to employment opportunities in the surrounding areas.
Proposed Navi Mumbai International Airport
Recently, City and Industrial Development Corporation (CIDCO) the nodal agency appointed for the Airport project has bid to develop many commercial projects in the surrounding areas. These projects will not only create job opportunities but will also generate revenue and lead to other infrastructural developments.
Upcoming Jewar International Airport
One of the most ambitious projects of both central and state government, the international Airport at Jewar will be developed adjacent to Yamuna Expressway. With most of the formalities completed, the PM is likely to lay the foundation stone of the Airport in the first week of March.
The Yamuna Expressway Industrial Development Authority (YEIDA) has already invited bids to develop commercial office spaces, industries and retail stores in the surrounding sectors like 21, 22 F, 23 B, 23 C, 28, and 29. Many renowned companies and corporate house have also shown interest to develop to set up their base here.
Along with this, infrastructural developments like metro connectivity, expressways and others will also add a fillip to the residential demand in these areas.
